Petrol price touches high in Delhi, Mumbai, Highest price in 5 years
Petrol priced in Delhi hiked on April 20 (Friday) of Rs. 74 per litre which is the highest price of petrol in five years.
According to a Indian Oil website, The price of petrol In Kolkata, Mumbai and Chennai also hiked to new multi-year at Rs. 76.78, Rs.81.93 and Rs. 76.85 per litre severally.
Diesel prices in Delhi, Kolkata, Mumbai and Chennai were Rs. 65.31, Rs. 68.01, Rs. 69.54 and Rs.68.90 per litre respectively.
The previous highs in these cities were Rs. 78.03 (Kolkata, August 2014), Rs. 82.07 (Mumbai, March 2014) and Rs. 76.93 (Chennai, July 2014).
Petrol prices firmed up today along with surge in crude oil prices due to the ongoing supply cut by the Organisation of the Petroleum Exporting Countries coupled with strong demand for crude oil.
On Friday, Brent crude oil was priced around $73.56 per barrel, whereas in 2013 it was priced at over $100 a barrel.
Prices of transport fuels are now changed on a daily basis unlike the previous norm of fortnightly revision of prices.